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Pastimes : Tri-West Investment, Haarlem, off shore SCAM?
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To: Roger Bodine who wrote (8)7/28/2001 11:48:30 AM
From: Roger Bodine  Read Replies (1) of 14
 
Tri West Investment update: Canadian free on bail

Story by : Angela Corelis

One of the two Canadians arrested at Puerto Vallarta Airport April 19 for failing to
declare more than four million dollars’ worth of checks has been released on bail.
Patrick Clifford Elder secured his freedom from the Puente Grande Prison in
Guadalajara after paying 500,000 pesos.
Elder and Alyn Richard Waage, both Puerto Vallarta residents, were arrested
after police discovered 4.5 million dollars in undeclared travelers checks and
cashier’s checks in their luggage.
One source at the Guadalajara prison said Elder was released because he is
suffering from heart problems and cancer.
Waage was refused bail because of outstanding warrants in other jurisdictions.
He is wanted for mortgage fraud and other offenses In Edmonton, Alberta.
Both Canadians were arrested when they passed through the terminal for private
plane passengers at the Puerto Vallarta Airport. Waage had left Costa Rica the
morning of April 19 accompanied by his security guard. He landed in Belize City,
picked up Elder and the checks and flew to Puerto Vallarta in the Lear jet Waage
had rented in Guadalajara.
Federal Preventative Police officers searched the two men’s luggage after they
denied they had anything to declare. When the checks were found, the
Secretaria de Hacienda y Credito Publico (Treasury Secretariat) issued an arrest
warrant.
At first, investigators believed the money was connected to drug trafficking, but
that assumption soon proved to be false.
The 1,076 checks were made out to a Panamanian-registered company called
Haarlem Universal Corporation, of which Waage admits he is a partner. Investors
in an Internet-based, high-interest yielding investment program known as the Tri
West Investment Club were instructed to make out their checks to Haarlem
Universal Corporation and send them to an address in Belize City by courier.
Some 22,000 people around the world may have invested in Tri West, which has
stopped sending out monthly interest checks since Waage’s arrest.
Cease and desist orders against Tri West have been issued in several U.S.
states and Canadian provinces.
According to the Tri West Investment website, the funds were destined for the
Partite Bank in Latvia. This bank has subsequently closed.
Under Mexcian law, there is no obligation for Mexican authorities to return the
undeclared checks taken from Waage and Elder to their original signers. All
“contraband” seized at entry points into the country becomes the property of the
state.
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